Topic: EconomicsFinance

Last updated: September 6, 2019

SCHOOL OF BUSINESS WHERE WERE WE TEN YEARS AGONAME : DUNCAN OCHIENGCOURSE NAME: PRINCIPLE OF INTERNATIONAL BUSINESSPROFESSOR NAME: DUE DATE : 8Th January 2018BY DUNCAN OCHIENG’Where were we ten years backIf you could ask the majority ten years back about the fate of the future medical status globally in a decade to come, they could be surprised and show wondering facial gestures of unpredictable situation.

Nobody knew what the field of physiology had in store for the whole world even to the most remote areas of the world. This was due to the then situations that affected the whole world like wars and illiteracy. People now find it easier to receive and deliver medical procedures ranging from no only domestically but even internationally as well and this we appreciate the efforts of nations for the advanced technology. For example contacting relatives and friends is just buttons away even if it is visual.

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Receiving the same quality of treatment globally at an affordable price is just is unthinkable. A decade ago it was very difficult and indeed so hard for people to receive treatment globally that is equal but today it’s no longer an issue. What trends have facilitated this process? Receiving medical treatment abroad a decade ago was rare. However, this whole tradition has completely changed over the last few years. Many citizens currently travelled to the United States to get quick treatment and even to the Europe and China. This was due to the advanced technology that the countries had on medical centers.

Nowadays it is vice versa. Citizens of the developed countries even come to the less developed countries to seek for medical attention. And this is brought about by the cost advantage and the technology that is equal globally.Cost advantageCost of the medical services is the most factors that drive the medical globalization. In most of the developed countries, you find that the cost of resources, goods and services are far much greater as compared to the less developed countries. This is even in the field of medical services.

Due to the less cost in the less developed countries, citizens in the much developed countries prefer their medical services to be offered in the less developed or developing countries in order to meet the cost. Some of these people even come to the less developed countries to see the kind of medical services they offer. When they visit the less developed countries, they even receive better medication that is considered “first class” or even luxurious. Technological advancementToday, people have witnessed many outstanding developments in technology e.g. in the infrastructure.

This has greatly improved even the medical field. These infrastructural developments include the telecommunication and transportation services. In the communication side, the social medias and internet allows easier and faster communication for the medical services to be provided in time. A physician can just scan and send information to another country that is interpreted and treatment done by another physician in another country, hence no need for a doctor to recommend a patient to undergo surgery in another country. The transportation is also easier, fast and affordable which makes medical services much simpler as compared to the past.

ConclusionThese developments have resulted into positivity as follows: exchange of patients and doctors globally and even equal care for patients globally. These medical services improvements have affected the American economy to some extent. By opting for cheap medical services in less developed countries, many citizens of America save a lot of money for themselves.

ReferencesImpacts of medical offshore medical movements on American economy. Retrieved from; Forgione DA, Smith PC. Medical tourism and its impact on the US health care system. J Health Care Finance 2007; 34: 27-35 pmid: HYPERLINK “http://www.ncbi.nlm.nih.

gov/sites/entrez?cmd=Retrieve&db=PubMed&list_uids=18972983&dopt=Abstract” 18972983. How the imports of medical services benefits individuals globally. Retrieved from;Warner D, Jahnke LR.

US-Mexico. Mode 2: imports and exports of health services. In: Report to the Organization for Economic Cooperation and Development. Austin: University of Texas at Austin; 2010. Health Tourism.

Retrieved from; Carrera P, Bridges J. Globalization and healthcare: understanding health and medical tourism. Expert Review of Pharmacoeconomics and Outcomes Research 2006; 6. Mirrer-Singer PM. Medical malpractice overseas: the legal uncertainty surrounding medical tourism. Law Contemp Probl 2007; 70: 211-32.


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